Users of smartphones and other similar devices are conducting an increasing number of electronic transactions using such devices. While financial transactions with merchants have become more user-friendly and commonplace, users are additionally employing their devices to conduct transactions with other mobile device users. These types of peer-to-peer transactions often require an overwhelming amount of data input to identify the other party in the transaction and to conduct the transaction.
Users of this technology are desirous of a simpler and faster method of locating the account of a transaction counter-party. An example of a circumstance in which users may conduct this type of peer-to-peer transaction is when multiple parties are paying a bill while dining at a restaurant. If one person pays the restaurant for the bill of a group of diners and the other members of the party would like to pay that person their share of the bill, entering account information of the payee by every member of the party would be burdensome.
Conventional systems do not present a list of likely counter-parties that are available to conduct the transaction. Additionally, such systems do not present a rank or order of the most likely counter-parties.
Thus, a need in the art exists for systems and methods that improve upon one or more of the above-described limitations.